According to the Commodity Market Analysis System of Business Society, the domestic polyester staple fiber market maintained a slight decline this week (October 23-27). As of October 27, the average price of 1.4D * 38mm in mainstream factories in Jiangsu and Zhejiang was 7642 yuan/ton, a decrease of 0.91% compared to the beginning of the week.
Recently, crude oil prices have fluctuated repeatedly around the conflict between Palestine and Israel, as well as expectations of weak demand. On October 26th, the settlement price of the main contract for WTI crude oil futures in the United States was at $83.21 per barrel, while the settlement price of the main contract for Brent crude oil futures was at 87.05 yuan per barrel. Hengli’s 2.2 million ton PTA device has been delayed in restarting and contract goods have been reduced, resulting in a reduction in supply. This week, the domestic PTA market has stopped falling and slightly rebounded. As of October 27th, the average market price in East China was 5875 yuan/ton, an increase of 0.42% compared to the beginning of the week.
As the end of October approaches, terminals are gradually weakening, and the “Double Eleven” and Christmas promotion effects are limited, resulting in insufficient motivation to undertake new orders. After the inventory of textile enterprises increased, recent discounts have increased, and the price of pure polyester yarn has remained stable and weak. As of October 27th, the reference price for pure polyester yarn in the Shandong region was 12775 yuan/ton, a decrease of 0.58% compared to the beginning of the week. With the weakening of raw material prices, the enthusiasm for restocking has decreased, and only the demand for goods has been maintained.
Analysts from Business Society believe that in the future, increased supply and weak demand will create a drag on the polyester staple fiber market. Recently, there is a new device feeding plan for polyester staple fibers, and it is expected that the construction trend will improve and the supply will increase. Superimposed, the traditional peak season market in the downstream is approaching its end, and entering November, the demand for the textile market will significantly weaken, and the demand for polyester staple fibers will gradually decrease. It is expected that the short-term polyester staple fiber market will still be dominated by weak adjustments.
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